Obama is trying to cut Medicare payments

WASHINGTON — President Barack Obama said Saturday in his weekly radio and Internet address that he wants to help pay for his health care overhaul by slowing Medicare and Medicaid spending. He suggests trimming federal payments to hospitals by about $200 billion over the next 10 years.

Congress ultimately will shape the new laws. Obama is urging lawmakers to resist lobbies trying to maintain their profits.

Obama said high health care costs hurt the entire economy and contribute to the nearly 50 million people who lack coverage. His address focused on payments to Medicare and Medicaid, which cover millions of elderly and low-income people and involve thousands of doctors, hospitals, nursing homes and institutions.

The president’s plans would provide $948 billion over a decade in savings and/or tax increases to slow the rate of soaring health care costs.


by the associated press